As America emerges from the pandemic, it’s heading to McDonald’s.
The burger giant said Thursday that its first quarter sales surpassed even two years ago, long before COVID-19, led by a big jump in U.S. demand. McDonald’s revenue rose 9% to $5.1 billion for the January-March period. That beat Wall Street’s forecast of $5 billion, according to analysts polled by FactSet.
U.S. same-store sales, or sales at locations open at least a year, rose 14%. Fewer diners visited, and many dining rooms remain closed. But those who did come ordered more. McDonald’s said new products, including a crispy chicken sandwich and spicy nuggets, helped draw customers.
Worldwide, same-store sales rose 7.5%, well above the 5% gain analysts forecast.
McDonald’s said its net income rose 39% to $1.5 billion. Adjusted for one-time items, the company earned $1.92 per share, beating Wall Street’s forecast of $1.81.